International Graphite Funding Deal with Comet Resources a Win-Win, Report Says

International Graphite’s (ASX:IG6) $1.5-million funding deal with major shareholder Comet Resources (ASX:CRL) resulted in a surge in IG6’s shares on March 13. The loan agreement was undertaken to address market speculation on the security of Comet’s shares in IG6, according to a news report from The West Australian.

“Management says the strategic funding transaction will prevent the potential sell down of any of the 40 million International Graphite shares owned by Comet – which delisted from the ASX in January – when they are released from escrow next month,” the report said.

The funding deal included giving International Graphite a majority seat on the Comet board, as IG6 management has called the deal a win-win for shareholders.

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IG6:AU

Further Offtake MOU for Orom-Cross Graphite Project

Agreement provides for sale of high value purified flake products to Advanced Technology firm

Blencowe Resources Plc is pleased to announce the signing of an additional non-binding Memorandum of Understanding ("MOU") for natural medium flake concentrate offtake from its Orom-Cross Graphite Project. The offtake agreement is with Yunasko Ltd. ("Yunasko"), an advanced technology company... Keep Reading...

International Graphite Funding Deal with Comet Resources a Win-Win, Report Says

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